Four Reasons You Need a Compliance Platform Solution

Four Reasons You Need a Compliance Platform Solution

When you go out to market for a third-party compliance solution, you’re going to find a multitude of options. Most of those are single product solutions, designed for a specific regulation like REACH or Dodd-Frank Section 1502.

The problem with single solutions is right in their names. They can only be used for one thing. Unfortunately, most companies’ products are captured under several regulations simultaneously. The cost of implementing individual solutions to manage each regulation — both in time and dollars — is staggering, not to mention wildly inefficient.

This is where compliance platform solutions, like the Assent Compliance Platform (ACP), really shine. Here are four reasons you need to combine your compliance programs into one solution:

 

1. One Platform Solves All

As we’ve already discussed, there are many regulations a company may need to comply with, depending on their industry and where they operate around the world. These regulations can all live in the Assent platform.

This saves time (reduction in soft costs) associated with training and operating multiple systems. Assent’s platform was designed to be modular and scaleable, allowing companies the flexibility to increase their regulatory programs in parallel with the ever-changing compliance environment.

Furthermore, Assent’s platform solution creates continuity throughout your compliance programs. As you add on modules, your reports maintain the same formatting across all regulations, and the users — your compliance team and suppliers — continue to work in a familiar environment.

 

2. Work Smarter, Not Harder

Why does each regulation need to be managed by its own software program? The quick answer is, they don’t.

There is a significant amount of information overlap in compliance programs. For example, materials management regulations (conflict minerals, anti-human trafficking) and restricted and declarable substance regulations (REACH, RoHS, FMD) require similar information to be collected.

Through the use of one platform, companies can leverage this data to streamline their processes and increase operational efficiencies.

 

3. Data is Power

Over 150,000 companies are profiled in the Assent platform.

More importantly are the ways in which you can use this data. Our database is integrated across your entire program, making reporting on your compliance program both simple and efficient. Beyond reporting, the data is used to assess risk and fill gaps in your supply chain.

This comprehensive platform gives managers the ability to understand their supply chains on a very granular level.

 

4. Money Talks

Assent’s platform solution is, simply put, more affordable than purchasing and implementing several isolated software solutions. It scales with your company’s growth and that of your compliance program, mitigating the cost of additional FTEs. The question for compliance managers is not how to afford Assent’s platform solution, but how they can possibly afford the alternative.

 

While these are all good reasons for you to choose a compliance software platform like the Assent Compliance Platform for your program, the proof is in the results. Click here to read Intertek’s third-party Software Vendor Analysis study, naming Assent Compliance as the #1 third-party vendor in the marketplace.

It’s not just about saving you money, it’s about helping you build a strong compliance program. Contact us at info@assentcompliance.com to find out how. If you’re already an Assent client, please contact your representative.

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